Word: perrine
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Dates: during 2000-2009
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That may have helped for a while. Blue chips like AT&T, Boeing, IBM and Phillip Morris have seen their bottom lines boosted by pension income, according to a study by the benefits consulting firm Towers Perrin. The study found that in 1999 alone, companies in the Dow Jones industrial average saw their pension funds' income increase more than $1 billion--the same amount that accounted for pension expenses the year before...
...early to tell the extent of the damage. "While 2000 looks as if it will produce asset losses rather than gains, many firms use asset smoothing," says Adam Reese, author of the Towers Perrin study. Those calculations can soften the impact of pension expenses on earnings. Moreover, most companies do not readily break down pension-fund costs in their earnings reports. Investors may need to comb through SEC filings like 10Qs and annual reports for indications of how serious the problem...